I'm an american living in Beijing working for a big american company. Everyone around me is a bit worried how the current "non-recession" will play out. Money moving from a crashing real estate market to a bubbly stock market doesn't really inspire confidence.
It was only a year ago that the Shanghai stock market was thought toxic given so much insider trading (you couldn't make money on it without guanxi).
What is the current state of Bitcoin in China? Could you buy Bitcoins with RMB locally and sell for USD somewhere else?
Please note that this is not an endorsement of Bitcoin or encouragement to use Bitcoin. I'm more interested to hear what the realworld situation of ecurrencies such as Bitcoin are in China and whether it is a feasibel to buy/sell Bitcoins in China.
I should do that, but I got rid of my American bank account when I left the country 9 years ago. I also need to do a bunch of paper work to convert the money since we are limited to $50k a year (not a big problem, since I think this is cumulative). So, ya, I'm thinking about it and taking a hit on forex.
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Im from Europe and work for in Beijing for a Chinese startup. I do get a bit worried when reading this (and similar articles).
I'm an american living in Beijing working for a big american company. Everyone around me is a bit worried how the current "non-recession" will play out. Money moving from a crashing real estate market to a bubbly stock market doesn't really inspire confidence.
It was only a year ago that the Shanghai stock market was thought toxic given so much insider trading (you couldn't make money on it without guanxi).
What economic indicator would need to occur for you to start looking for work outside the country and start to pack up?
I'm more worried about losing my savings (mostly RMB in China) since I can always go to the states if I lost my job.
What is the current state of Bitcoin in China? Could you buy Bitcoins with RMB locally and sell for USD somewhere else?
Please note that this is not an endorsement of Bitcoin or encouragement to use Bitcoin. I'm more interested to hear what the realworld situation of ecurrencies such as Bitcoin are in China and whether it is a feasibel to buy/sell Bitcoins in China.
Any thought to shifting your savings to USD ASAP?
I should do that, but I got rid of my American bank account when I left the country 9 years ago. I also need to do a bunch of paper work to convert the money since we are limited to $50k a year (not a big problem, since I think this is cumulative). So, ya, I'm thinking about it and taking a hit on forex.
Good luck. Interesting times ahead :/